SEC Closes Probe on Ondo Finance; ONDO Trading Volume Surges

Ondo Finance experienced a surge in investor interest following the closure of a multi-year SEC investigation. Key highlights include:

  • The ONDO token's spot trading volume increased by 150% within 24 hours.
  • ONDO is currently trading at approximately $0.4765, showing a 2% daily gain.
  • Total value locked (TVL) reached an all-time high of $1.866 billion, according to DeFiLlama.

The SEC's investigation, initiated in 2024, focused on the compliance of Ondo Finance's tokenization of real-world assets with federal rules. The probe also questioned whether the ONDO token should be classified as a security.

Technical analysis suggests:

  • ONDO is trading within a falling wedge pattern on the daily chart, indicating a potential trend reversal.
  • A breakout above $0.50 could lead to a rally towards $0.62.
  • MACD indicators suggest a possible bullish move if the cross holds, targeting the $0.52 zone.
  • Bollinger Bands indicate tighter spacing, hinting at a potential breakout.
  • The 1-hour chart shows a triple bottom pattern, suggesting a potential price target of $0.6351.

ONDO daily chart with momentum indicators and falling wedge pattern | Source: TradingView